Leading exchange Binance is launching new investment products for the top 10 altcoins by market cap.
Binance announces new investment products
The leading cryptocurrency exchange has launched a new way to invest in Ripple (XRP) and Cardano (ADA) as part of expanding its network of investment products. According to the announcement, holders of XRP and ADA will be able to consider new investment products under subscription, choosing a strategy that involves selling more at a higher price or, conversely, buying at a lower price.
In addition to XRP and ADA, the new basket includes all other major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Polygon (MATIC).
In the meantime, it should be noted that such products on cryptocurrency exchanges carry increased risks. Additionally, Binance has raised concerns with a money laundering investigation going back to 2018, which was re-discussed last month. But the good news is that the exchange received a passing grade from the Swedish regulator today.
Binance gets its seventh approval in Europe
Binance has registered with the Swedish Financial Supervisory Authority, making the Scandinavian country the seventh European jurisdiction to be approved for a crypto exchange. Swedish residents will now be able to buy and sell cryptocurrencies in euros, access Binance’s staking service and use the exchange’s Visa card, the exchange announced on Wednesday.
Registration in Sweden follows Binance’s registration in France, Italy, Lithuania, Spain, Cyprus and Poland. Wednesday at St. At the Crypto Finance Conference held in Moritz, Binance CEO Changpeng Zhao said that the crypto exchange plans to continue its scaling plans with the goal of increasing the headcount from 15% to 30%. CZ also shared that Binance has grown from 3,000 to 8,000 in 2022. This means the exchange is in contrast to most of its peers, which have reduced headcount in recent months.
Hej Sweden 🇸🇪#Binance has been granted registration by the Swedish Financial Supervisory Authority.
Furthering our commitment to compliance across Europe, this registration gives residents in Sweden access to a broad range of our regulated crypto and Web3 services.
— Binance (@binance) January 11, 2023
According to the official status, products available to Swedish users include:
Crypto trading with EUR, spot trading, margin trading, Binance Earn, Binance Pay, Binance Pool, NFT marketplace, fan tokens, Binance Visa Card, crypto conversion function, Launchpad, Launchpool, Savings, BNB Vault, auto invest and Storage.
How about BNB?
Binance Coin (BNB) is trading in a key resistance zone during the upside announcements. According to current analysis, traders can wait for a move below $270 before entering short positions. cryptocoin.com As you follow, BNB is trading at $276.53 towards the last hours of January 11th. While it was flat in the last 24 hours, it was green over 5% compared to last week.
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